Validus Energy

Also known as: Validus Energy Namibia

2023-03-262026-08-21

What’s been said

Key points drawn from coverage. Tap a point to see the original sentence.

June 2026
7 JunThe Namibian
Validus Energy is co-owned by Mathews Hamutenya (holding 35% through Millennium Investments) and Vitol (65%)
Source
“Miguel's father, Mathews, co-owns Validus Energy with Vitol, holding 35% through Millennium Investments against Vitol's 65%.”
Is Amutse Enabling Fuel Capture?
March 2026
27 MarNew Era
Validus Energy has used NOSF storage capacity as only local company to date
Source
“To date, only one local company, Validus Energy, has used its storage capacity.”
Namibia’s energy buffer amid uncertain times … national oil storage more than oil depot
17 MarNew Era
Validus Energy is the only local company that has used NOSF storage capacity so far
Source
“However, officials acknowledge that access to the facility has so far been limited, with only one local company, Validus Energy, having used its storage capacity.”
Oil storage fee shake up … new NOSF pricing structure to empower local fuel businesses
March 2023
26 MarThe Namibian
Validus Energy was owed payment for petrol stored at Walvis Bay facility for N$21.6 million yearly
Source
“For the past two years, Namcor has stored Validus Energy's petrol at the national oil Storage facility at Walvis Bay for N$21,6 million a year.”
Namcor’s power struggle exposes suspicious deals

Mining & Energy

Former Namcor chief criticises N$7.2bn Vitol fuel deal

The News

Former Namcor acting managing director Maureen Hinda-Mbuende has criticised the government's award of a N$7.2 billion three-month fuel supply contract to Vitol, saying the deal is "counter-productive and monopolistic" and will damage the downstream fuel sector's long-term competitiveness. Hinda-Mbuende claims Namcor offered a cheaper deal and that Vitol's ownership of Shell and Engen service stations creates conflicts of interest that could harm competitors.

9 June 2026 · The Namibian →

Tuesday 9 June

Former Namcor chief criticises N$7.2bn Vitol fuel deal
Former Namcor acting managing director Maureen Hinda-Mbuende has criticised the government's award of a N$7.2 billion three-month fuel supply contract to Vitol, saying the deal is "counter-productive and monopolistic" and will damage the downstream fuel sector's long-term competitiveness. Hinda-Mbuende claims Namcor offered a cheaper deal and that Vitol's ownership of Shell and Engen service stations creates conflicts of interest that could harm competitors.
9 June 2026 · The Namibian →

Sunday 7 June

Energy minister grants Vitol exclusive fuel import mandate
Energy Minister Modestus Amutse granted Swiss commodity trader Vitol an exclusive mandate to supply Namibia's entire fuel needs from June to August under a contract valued at an estimated N$2.4 billion a month, raising concerns about fuel sector capture given Vitol's links to individuals connected to politicians and the decision's apparent circumvention of the Competition Commission's conditions on fuel sourcing.
7 June 2026 · The Namibian →

Monday 1 June

Vitol awarded three-month exclusive fuel supply deal
The Ministry of Industries, Mines and Energy has awarded Vitol an exclusive fuel supply contract for July to September, saying the company's offer to supply fuel at standard price without extra charges or public subsidy distinguished it from other bidders, whose proposals included additional conditions.
1 June 2026 · The Namibian →

Tuesday 19 May

Nasan Energies appeals NaCC fuel sourcing ban through legal review
Renthia Kaimbi Nasan Energies has appealed the Namibian Competition Commission's decision blocking the company from sourcing fuel from Vitol and related companies following its acquisition of 52 fuel stations. The company, represented by Ndaitwah Legal Practitioners, argues the conditions are too restrictive and has requested a five-year transitional period to build independent supply arrangements.
19 May 2026 · Windhoek Observer →

Thursday 2 April

Nasan Energies appeals five-year fuel sourcing ban from Vitol
The Namibian Competition Commission approved Nasan Energies' acquisition of 52 service stations but barred the company from sourcing fuel from Vitol for five years to prevent monopoly concentration. Nasan has appealed the restriction and notified the energy minister of its intention to seek a review of the commission's conditions.
2 April 2026 · The Namibian →

Friday 27 March

NOSF enters new phase with market-based fees, wider access
Namibia's National Oil Storage Facility, a N$6.5 billion investment in Walvis Bay designed to hold 75 million litres of fuel, is undergoing policy reforms to establish market-related tariffs and attract local entrepreneurs to its storage capacity. The facility aims to balance its role as a strategic energy buffer against global supply disruptions with expanded commercial participation and improved operational sustainability.
27 March 2026 · New Era →

Thursday 19 March

Nasan Energies approved to buy 53 service stations from Vivo Energy
The Namibian Competition Commission has approved Nasan Energies, co-founded by Miguel Hamutenya, to acquire 53 service stations from Vivo Energy/Engen. The approval comes despite earlier objections over potential monopoly concerns related to possible ties between Nasan and Vitol, Vivo Energy's parent company.
19 March 2026 · The Namibian →

Tuesday 17 March

Government reviews NOSF fuel storage fees to boost local participation
The Ministry of Industries, Mines and Energy is reviewing storage fee structures at Namibia's National Oil Storage Facility to establish market-related tariffs and open access to more local entrepreneurs. The facility has received multiple applications from companies seeking to store diesel, petrol, and aviation fuel, but current space constraints may limit simultaneous usage; managers are considering short-term contracts (around 30 days maximum) to ensure fair access and prevent monopolisation by individual operators.
17 March 2026 · New Era →

Monday 2 March

Opposition leader alleges presidential family controls petroleum value chain
Panduleni Itula, leader of the Independent Patriots for Change, presented evidence he says shows the president's family members hold interests across the oil and gas sector—including the president's son operating a diesel distribution business at Lüderitz port and the first gentleman serving as patron of a petroleum industry forum—and called on Parliament to reject a petroleum amendment bill that would transfer licensing authority to the Presidency.
2 March 2026 · The Namibian →

Thursday 26 February

President's sons deny oil industry involvement, reject Itula claims
President Nandi-Ndaitwah's two sons have rejected opposition leader Panduleni Itula's allegations that they are involved in Namibia's oil sector through their private businesses. The brothers, who operate a farming business and a logistics company respectively, issued a detailed rebuttal denying any interest in oil and characterizing Itula's claims as lies intended to discredit the first family.
26 February 2026 · The Namibian →

Wednesday 25 February

President challenges Itula to prove oil sector family links
President Nandi-Ndaitwah has challenged Independent Patriots for Change leader Panduleni Itula to provide empirical evidence linking her family to Namibia's upstream oil sector, reiterating her denial of direct or indirect interests. Itula held his third oil-related press conference in less than three weeks, presenting what he termed documented evidence of a systematic network involving the president's sons and husband across the petroleum value chain, including fuel imports, distribution, and investments.
25 February 2026 · New Era →

Thursday 19 February

Nasan-Vivo merger raises monopoly fears amid Vitol links
The Namibian Competition Commission is investigating whether Nasan Energies' acquisition of 53 service stations from Vivo Energy violates divestiture conditions meant to prevent market dominance, citing alleged connections between Nasan co-founder Miguel Hamutenya and Vitol, Vivo's major shareholder. NaCC preliminary findings warn the deal could result in a combined market share of about 70%, contrary to the regulator's requirement that the buyer be independent with less than 10% market share.
19 February 2026 · The Namibian →